Demystifying Data Mining
Mining large reservoirs of data in oil and gas operations involves committing to key processes and technologies – and embracing new ways of thinking about problem solving. To extract value from vast data stores and change the way decisions are made, many operators have turned to advanced data mining techniques along with real-time analytical and data processing capabilities. This paper explores practical approaches, workflows and techniques that are used in oil and gas operations. It also examines the role of exploratory data analysis; model development and modeling techniques; and approaches to putting models into production.